TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

TRON (TRX) becomes more popular than Ethereum (ETH) for USDT transactions

by souhaib
January 22, 2021
in Economie
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

Ethereum is the biggest development platform in the crypto industry, but its inability to scale and meet demand is beginning to take its toll. Due to the growing fees, the TRON blockchain has become a much more popular network — useful not only for buying TRX, but also for small Tether (USDT) transactions.

Many USDT users shifted from Ethereum to TRON

According to recent data, the number of USDT transactions on TRON has surged recently. In fact, it has gone up enough to pass Ethereum’s count for as many as three consecutive weeks.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

It is believed that the reason for this is Ethereum’s gas fees, which remain quite high. As such, they are only affordable and sensible for those who have larger transactions to process. There are still quite a few users willing to pay elevated prices of the Ethereum network. For the last month, ETH has had around 1.5 million weekly transactions.

However, users who wish to invest in cryptocurrency in smaller quantities have turned to TRON. This is quite clear from the project’s transaction count, which skyrocketed from 900,000 in mid-December, to almost 2 million per week in mid-January.

TRON is more popular for smaller USDT transactions

According to Coin Metrics, the reason for this is the high price of fees, which tend to go as high up as to reach prices above $19. Currently, the fees sit just below $8. However, while below the all-time high, that is still considered very high for the crypto industry, where millions of dollars can be processed for barely a few cents.

Another crypto data firm, Blockchair, noted that fees have surpassed 0.015 ETH several times in the last month. As it were, crypto users do not wish to spend their money on paying high fees, which is why they shift to a cheaper network — TRON’s.

Ethereum still processes a greater volume of USDT than TRON, meaning that only those who transact smaller amounts are migrating to the rivaling blockchain.

Tether’s CTO, Paolo Ardoino, said that it is logical for smaller transactors to use TRON, especially as the younger project saw good adoption on exchanges. TRON, of course, is not the only alternative, but it seems to offer the best conditions when it comes to network effects, usability, and low fees.



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

Online Marketing Tools – Search Engine Optimization Tools Reviews

Next Post

Egypt is seeking to locally manufacture seawater desalination technologies with Russian expertise

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
Next Post

Egypt is seeking to locally manufacture seawater desalination technologies with Russian expertise

No Result
View All Result

Recent Posts

  • Argentina specifies voluntary debt swap in the domestic market
  • Authorities report burning of vehicles and blockades of organized crime in Guadalajara, Jalisco
  • The Compact French Bulldog
  • Musk Sells $6.9 Billion of Tesla Shares, To start with Considering that April
  • Retirement Calculator Software Reviews 2022

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide